Summary by Moomoo AI
CMGE Technology Group Limited ("CMGE") issued a profit warning, forecasting a net loss of no more than RMB 243.0 million for the six months ending June 30, 2024, compared to a net profit of RMB 51.0 million in the same period of 2023. The decline in performance is mainly due to a decrease in non-operating other income and gains, an increase in non-operating other expenses, and a delay in the launch of the new game "The Legend of Sword World", resulting in reduced revenue. Nevertheless, the company's operating division continued to be profitable during the reporting period, and it is expected that the performance will improve in the second half of 2024 with the launch of multiple new games. CMGE will release a detailed interim performance announcement by the end of August 2024, and the board of directors urges shareholders and potential investors to act prudently when trading shares.
